North County Times - "FALLBROOK: Homeowners upset by 'downsizing' plans" (3-29-08)

"On Friday, experts said many developers have decided to switch from large floor plans to smaller homes halfway through development because small houses have been selling better since the downturn began in the real estate market."

Philly.com - "Second-home sales plummeted in 2007" (3-29-08)

"Second-home sales nationally took a big hit last year as speculators disappeared from the market in the face of tightening credit, the National Association of Realtors reported yesterday.
Vacation-home sales dropped 30.6 percent in 2007, to 740,000 from a record 1.07 million in 2006, while sales of investment properties fell 18.1 percent, to 1.35 million last year from 1.65 million in 2006."

Los Angeles Times - "Countrywide execs due millions in stock" (3-29-08)

"The top two executives of beleaguered Countrywide Financial Corp. will pocket $19 million in stock next week, according to a regulatory filing. It's the start of a series of multimillion-dollar payments expected to go to the pair before and after the company's pending takeover by Bank of America Corp."

North County Times - "REGION: Housing woes feed surge in foreclosure advice" (3-29-08)

"As some real estate agents struggle and mortgage brokers close up shop, one real estate industry is booming: foreclosure advice.You Walk Away, a Carlsbad company that guides homeowners through foreclosure, plans to quintuple its staff to meet demand. HomeFreeMe, a similar company, just launched in San Diego. And a smattering of copycats has popped up ---- Walk Away Smart in Los Angeles and Walk Away Plan in Arizona."

Herald Tribune - "Tough times make for few takers at property auction" (3-29-08)

"The crowd filed in to the large white tent behind the Bahia Mar resort for Friday's real estate auction organized by Sotheby's and Daniel DeCaro Auctions as a four-piece jazz band played a peppy rendition of 'I Feel Good.' Only a handful of the properties would be selling absolute, where any bid would be accepted. The rest carried a non-disclosed reserve, or minimum bid. The auction, which was anticipated to take four to five hours, wound up clocking in at barely two. Two-thirds of the property on the block failed to garner a single bid."